(Trinidad Express) The feud over rent and control of MovieTowne continues, with the Port of Spain Infrastructure Company (POSINCO) and Trinbago Commercial Development Company (TCDC) both asserting their “rights” over the property.
POSINCO issued a release stating that, after two unsuccessful injunctions filed by TCDC’s attorneys, POSINCO retains its right of possession of the facility in accordance with the Deed of Lease.
“Since 2021, POSINCO has made every effort to bring this matter to an amicable resolution, in the hope that the matter would not reach the Courts. However, no payments were made by the TCDC toward its rent. In the interest of its stakeholders and business, POSINCO was left with no choice but to take action,” the release stated.
POSINCO stated that it has complied with the conditions of the order issued by the High Court of Trinidad and Tobago on August 26, 2024. The order directs POSINCO, among other things, not to interfere with Movie Towne’s operations or those of its tenants while the substantive matter between POSINCO and TCDC is heard.
The release stated “POSINCO recognises that tenants may be concerned about their businesses and the future livelihoods of their employees. Given that the Court has made no determination as to who should receive the rent from tenants, the company has not sought to communicate with any tenant requesting that they make rental payments directly to POSINCO. The company will continue to respect the decisions of the Court and uphold the right of the tenants to continue to operate their businesses without interference.”
TCDC management also issued a release yesterday rejecting POSINCO’s statement which it said “misrepresented certain facts and events.”
“We find their release to be misleading and disingenuous,” it stated.
TCDC stated that the matter is currently before the court, and therefore, it will not provide further comments at this time.
The release added “However, it is important to note that TCDC has observed ongoing efforts by the Port and its Chairman to mischaracterise the interim Order issued by the Court. As the Architect, Builder, and Operator of Movie Towne, the premier family destination, TCDC remains in legal and operational control of the facility. We are committed to upholding the rights and interests of all employees, tenants, and other stakeholders, and we will continue to safeguard these rights in accordance with the rule of law.”
On August 23, POSINCO sought to levy on TCDC and take control of MovieTowne for over $10 million in rent that it claims TCDC owes. POSINCO also sent letters to tenants, instructing them to pay their rent directly to POSINCO.
TCDC obtained an injunction on August 24 and was barred from communicating with TCDC’s tenants.
On August 26, the matter went before Justice Eleanor Donaldson-Honeywell where TCDC agreed to pay some $3 million to the Court and POSINCO agreed to not interfere with MovieTowne’s tenants and operations.
However there was no determination as to who the rent would be paid to.
Justice Donaldson-Honeywell rejected TCDC’s request for a hearing last Saturday for a variation to her order saying it was not substantive.
At present, MovieTowne continues to operate and all businesses remain opened.
